By Jung Joo-ri and Lee Jihae

Despite negative economic factors at home and abroad, the nation's overall trade volume has surpassed USD 1 trillion this year for the third consecutive year.

The Ministry of Trade, Industry and Energy and the Korea Customs Service on Dec. 16 announced this result based on statistics compiled as of 4:41 p.m. that day.

"Trade volume did not reach USD 1 trillion in 2015 and 2016, when trade declined for 19 months in a row but it broke USD 1 trillion this year despite a decline of 12 consecutive months," a ministry source said.

"The feat was achieved despite negative external factors such as the trade dispute between the U.S. and China, Japan's export restrictions, Brexit and the situation in Hong Kong as well as unstable domestic factors such as the slowdown in semiconductors, petrochemicals and petroleum products."

The ministry said only nine countries including Korea, China, the U.S. and Germany have had trade volume exceed USD 1 trillion for three straight years. Of the nine, Korea was one of only three economies to see a trade surplus in manufacturing along with China and Germany.

Korea's trade volume has shown average annual growth of 4.3% over the last ten years, fourth highest after China (7.3%), Hong Kong (4.8%) and the U.S. (4.7%).

Another ministry source said, "Korea has built its status as a stable trading power by achieving trade volume of USD 1 trillion for three consecutive years despite difficult conditions."

etoilejr@korea.kr